Prenumeration
Beskrivning
| Land | Finland |
|---|---|
| Lista | Mid Cap Helsinki |
| Sektor | Industri |
| Industri | Industriprodukter |
Purmo Group Plc | Stock Exchange Release | August 08, 2024 at 19:25:00 EEST
New financing arrangement for Purmo and prepayment of existing loans
The Board of Directors of Purmo Group Plc (the “Company” or “Purmo”) has made a decision upon a loan agreement to be made with Project Grand BidCo (UK) Limited (“Grand BidCo”) under which Grand Bidco makes available to the Company a term loan that can be at maximum up to EUR 300 million for the refinancing of the Company's existing indebtedness and for working capital and general corporate purposes. The Company’s existing syndicated term loan and revolving credit facilities totalling around EUR 290 million from third parties will be prepaid with the loan provided by Grand BidCo and the Company’s existing interest rate swaps will be terminated. The company will not inform separately on the expiry of the current financing agreements or the interest rate swaps.
The prepayment of the existing loans and termination of interest rate swaps relates to the change of control in the Company that will result from the completion of the voluntary public cash tender offer by Grand BidCo. The prepayment of the existing debt and the termination of interest rate swaps is expected to take place in connection with the change of control in Purmo. The change of control is expected to occur on or about August 16, 2024, when the title to the validly tendered Purmo shares transfers to Grand BidCo against the payment of the offer price in accordance with the terms and conditions of the tender offer.
Further information:
Katariina Kataja
Head of Investor Relations
Tel. +358 40 527 1427
katariina.kataja@purmogroup.com
Distribution:
Nasdaq Helsinki Ltd
Principal media
investors.purmogroup.com
About Purmo Group:
Purmo Group is at the centre of the global sustainability journey by offering full solutions and sustainable ways of heating and cooling homes to mitigate global warming. We provide complete heating and cooling solutions to residential and non-residential buildings, including underfloor heating and cooling systems, a broad range of radiators, heat pumps, flow control and hydronic distribution systems, as well as smart products. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our approximately 2,950 employees operate in 23 countries, manufacturing and distributing top-quality products and solutions to our over 100,000 customers in more than 100 countries. Purmo Group’s shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.